Question

What are the determinants of wages and salaries?

Answer 1

Determinants of Wages can be - 

1. Geographical Location
2.Gender Differential 
3. Profitability of the Organization
4.Employment Setting.
5.Supply of Demand for the Labor

Determinants of Salaries - 

1.  Location
2. Experience
3. Education
4. Demand 
5. Designation in the company 

Answer 2

Answer:

˙❥˙The following factors should be taken into consideration in determining wage and salary structure of workers:

☞(i) Labour Unions:

☞(ii) Personal perception of wage:

☞(iii) Cost of living:

☞(iv) Government legislation:

☞(v) Ability to pay:

☞(vi) Supply and demand:

☞(vii) Productivity

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